Latest news with #priceStability
Yahoo
3 days ago
- Business
- Yahoo
Japan to Set Up Minister-Level Meeting to Address Rice Supplies
(Bloomberg) -- Japan will set up a minister-level meeting as early as this week to address the supply of rice, Prime Minister Shigeru Ishiba said in parliament on Monday, as the government seeks to stabilize the price of the nation's staple grain and quell public anger ahead of a summer election. Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Where the Wild Children's Museums Are The Economic Benefits of Paying Workers to Move Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania NYC Congestion Toll Brings In $216 Million in First Four Months The government released a further 300,000 metric tons of stockpiled rice last week in a bid to bring down prices, which have doubled in the past year. The move came as households struggle with inflation less than two months before an upper house election that could punish a minority government already on the back foot after an underwhelming performance in last year's general vote. 'With rice costing twice as much — even 2.5 times as much in some regions — as last year, it's very important to steady that and stabilize the market,' Agriculture Minister Shinjiro Koizumi said in the same parliamentary session on Monday. Retailers including Aeon Co Ltd. and Pan Pacific International Holdings Corp., the parent company of popular discount store Don Quijote, started selling the stockpiled rice over the weekend, according to statements from both companies. Aeon priced its 5 kilogram bag at just under ¥2,000 before tax, well below the ¥4,200 per bag average consumers are seeing at storefronts. The government auctioned off batches of stockpiled rice starting in February, but prices have continued to hit record highs. Koizumi announced last week that the most recent release would be sold at a fixed price instead of auctioned, and bypass the usual supply chain, which includes rice collection agencies and wholesalers. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Will Small Business Owners Knock Down Trump's Mighty Tariffs? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Japan Times
3 days ago
- Business
- Japan Times
Japan to set up minister-level meeting to address rice supplies
Japan will set up a minister-level meeting as early as this week to address the supply of rice, Prime Minister Shigeru Ishiba said in parliament on Monday, as the government seeks to stabilize the price of the nation's staple grain and quell public anger ahead of a summer election. The government released a further 300,000 metric tons of stockpiled rice last week in a bid to bring down prices, which have doubled in the past year. The move came as households struggle with inflation less than two months before an Upper House election that could punish a minority government already on the back foot after an underwhelming performance in last year's general vote. "With rice costing twice as much — even 2.5 times as much in some regions — as last year, it's very important to steady that and stabilize the market,' agriculture minister Shinjiro Koizumi said in the same parliamentary session on Monday. Retailers including Aeon and Pan Pacific International Holdings, the parent company of popular discount store Don Quijote, started selling the stockpiled rice over the weekend, according to statements from both companies. Aeon priced its 5-kilogram bag at just under ¥2,000 ($14) before tax, well below the ¥4,200 per bag average consumers are seeing at storefronts. The government auctioned off batches of stockpiled rice starting in February, but prices have continued to hit record highs. Koizumi announced last week that the most recent release would be sold at a fixed price instead of auctioned, and bypass the usual supply chain, which includes rice collection agencies and wholesalers.
Bloomberg
3 days ago
- Business
- Bloomberg
Japan to Set Up Minister-Level Meeting to Address Rice Supplies
Japan will set up a minister-level meeting as early as this week to address the supply of rice, Prime Minister Shigeru Ishiba said in parliament on Monday, as the government seeks to stabilize the price of the nation's staple grain and quell public anger ahead of a summer election. The government released a further 300,000 metric tons of stockpiled rice last week in a bid to bring down prices, which have doubled in the past year. The move came as households struggle with inflation less than two months before an upper house election that could punish a minority government already on the back foot after an underwhelming performance in last year's general vote.
Reuters
27-05-2025
- Business
- Reuters
Swiss inflation could go negative, SNB focused on medium term, Schlegel says
BASEL, Switzerland, May 27 (Reuters) - Swiss inflation could enter negative territory in the coming months, but this will not necessarily trigger a reaction by the Swiss National Bank, SNB Chairman Martin Schlegel said on Tuesday. The SNB will not be guided by inflation data for individual months, but instead look at maintaining price stability over the medium term, Schlegel told an event in Basel. "Even negative inflation figures cannot be ruled out in the coming months," he said. "The SNB does not necessarily have to react to this. Our focus is not on the current rate of inflation, but rather on price stability over the medium term." Swiss inflation eased to 0% in April, at the bottom end of the SNB's 0-2% target range, which it calls price stability. The figure, the lowest reading for four years, has fuelled market expectations the SNB will cut its benchmark rate from the current 0.25% at its next monetary policy meeting on June 19. Markets currently price in a 75% probability the SNB will cut the rate 25 basis points to zero. They give a 25% chance the central bank will go for a 50 basis point cut to minus 0.25%. By focusing on the medium term rather than short term peaks and troughs, the SNB could act with a "steady hand" in deciding monetary policy, the SNB chairman said. However, the bank would not hesitate to act if necessary, he said, with the SNB's policy rate its main tool. Currency market interventions could also be an important instrument, he added. Schlegel also said trade uncertainties are currently high due to the tariff policies pursued by the U.S. government.
Daily Mail
21-05-2025
- Business
- Daily Mail
Home Depot doesn't plan to raise prices following tariffs
The Home Depot just gave American shoppers a little peace of mind. Its executives don't expect major price changes over the next 12 months, a huge contrast to other big chains — like Walmart , Target, and Best Buy — that have warned about tariff-related price hikes. 'We don't see broad based price increases for our customers at all going forward,' Billy Bastek, the executive vice president, said during The Home Depot's earnings call. Executives at major brands have roiled President Donald Trump with their announcements about price hikes. The President, who campaigned on lowering prices during the 2024 election, has lashed out against Walmart and Amazon after both companies said his policies would make consumers pay more for common products. In a post on Truth Social, the President told the companies to 'eat the tariffs.' But major corporations have to protect their profits, retail experts told The companies, who have relied on US foreign trade deals to supply their stores, will likely face major layoffs if they don't stay in the green. 'Produce from overseas will be impacted heavily because margins are low and costs need to be passed across,' Neil Saunders, the retail expert at Global Data, previously told 'General merchandise, especially home products and electronics, will also be impacted as they are heavily reliant on overseas production.' But no price rises at The Home Depot, which has 2,300 stores and dominates the US DIY sector, from two key factors. First, the company has deep US product sourcing. Second, its betting President Donald Trump will extend a pause on higher-than-expected 'Liberation Day' tariffs. 'We anticipate that 12 months from now, no single country outside of the United States will represent more than 10 percent of our purchases,' CFO Richard McPhail said in a statement. 'We intend to generally maintain our current pricing levels across our portfolio.' The Home Depot also said it would start slashing products that are produced abroad. 'There are items that we have that could potentially be impacted from a tariff that, candidly, we won't have going forward,' Bastek added. Home Depot sources less than half its products outside North America and has been deliberately pulling back from China in recent years. That strategy is paying off. The company reported $39.86 billion in net sales for the quarter ending May 4, topping analyst expectations. Shares rose 2 percent in premarket trading after the company reiterated its fiscal 2025 forecast. That is also standing in stark contrast to other major American brands that have removed their 2025 financial expectations. Home Depot's founder, Ken Langone, recently joined a growing list of executives that had criticized Trump's tariff policie. 'I don't understand the goddamn formula,' the billionaire said. 'I believe [Trump's] been poorly advised by his advisers about this trade situation — and the formula they're applying.' But the pricing pullback shows that retailers are caught in between two difficult choices: say nothing, or warn customers and risk angering the President . With rivals sounding alarms about rising costs, Home Depot is trying something bolder: standing still. And as consumers still face inflationary pressures before the tariffs smack the economy, it's hoping no major changes is the most consumer-friendly move of all. Want more stories like this from the Daily Mail? Visit our profile page and hit the follow button above for more of the news you need.
